The Andrews Victorian state government has been successful with the sale of the Port of Melbourne for $9.7 billion, an election promise. The government had been expecting around $7 billion for the asset. Technically, its not a sale, but a 50 year lease of the port’s commercial operations. The long term lease of Australia’s largest port facilities had bipartisan support, with the State Liberal Party, when in power, doing much of the initial paperwork to bring about the privatisation. The new owners of the Port of Melbourne are the Lonsdale consortium which includes the Queensland Investment Corporation, the Future Fund, GIP and OMERS. This is another public asset sale deriving […]

Queensland tourism stalls. Ban the bins. A brief shining moment – By far, Campbell Newman’s best speech. From asset sales to asset leasing – A game of poles and wires. Overcrowding in youth detention centres. Tweet of the week – Hi-vis vending machines installed. . Queensland Tourism stalls Premier Campbell Newman’s budget cuts have been blamed for the stagnated growth in Queensland Tourism as other states forge ahead. Tourism Research Australia’s International Visitor’s Survey for the June Quarter showed international visitors rose by 1 percent, with Victoria up 11pc, New South Wales, South Australia and Western Australia all up 7pc, Tasmania up 4pc and Australia Capital Territory up 2pc. The […]